American Dream Home

FHFA Hears Advocacy’s Voice; Delays Adverse Market Fee to December 1

The Federal Housing Finance Agency today delayed implementation of the 0.5%  fee on refinances until December 1. The original implementation date was September 1 and was announced only weeks ahead of time.  The Northwest Credit Union Association helped to educate the agency on the unexpected, financial hardship that would place on homeowners who have refinances […]

Compliance Center: CFPB Releases Bulletin on Obligations When Dealing With Section 8 Housing Vouchers

Learn about Section 8 obligations; your question answered about protecting your credit union when you take power of attorney; plus this week’s legal briefs.

Legal Briefs

Your weekly update on the regulatory landscape covers a new search engine the NCUA is providing for credit unions, CFPB updates to the remittance transfer rule, and new alerts from the FHFA, Federal Reserve, and the Washington DCU.

FHFA Limiting Fannie Mae and Freddie Mac Loan Purchases to “Qualified Mortgages”

Fannie Mae and Freddie Mac will limit future mortgage acquisitions to loans that meet the requirements for a qualified mortgage. This new development takes effect in January.

Most Maximum Conforming Loan Limits Will Remain at 2011 Levels in 2012

The FHFA announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2012 will remain at 2011 levels in all but one U.S. county.